OraSure Technologies, Inc. (NASDAQ:OSUR) Sees Significant Decrease in Short Interest

OraSure Technologies, Inc. (NASDAQ:OSUR) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 2,220,000 shares, a drop of 50.0% from the June 15th total of 4,440,000 shares. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com cut OraSure Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Evercore ISI dropped their price target on shares of OraSure Technologies from $5.50 to $4.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their target price on OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.13.

Hedge Funds Weigh In On OraSure Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of OSUR. Vanguard Group Inc. lifted its position in OraSure Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,409,028 shares of the medical instruments supplier’s stock valued at $33,266,000 after purchasing an additional 99,572 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of OraSure Technologies by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,906,687 shares of the medical instruments supplier’s stock valued at $32,035,000 after acquiring an additional 301,558 shares during the last quarter. Cannell Capital LLC boosted its position in shares of OraSure Technologies by 25.8% in the 4th quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock valued at $29,102,000 after purchasing an additional 728,459 shares during the period. Pacer Advisors Inc. increased its position in shares of OraSure Technologies by 122.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock worth $19,707,000 after acquiring an additional 1,323,197 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of OraSure Technologies by 46.4% in the first quarter. Acadian Asset Management LLC now owns 1,590,258 shares of the medical instruments supplier’s stock valued at $9,776,000 after purchasing an additional 503,804 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

OraSure Technologies Stock Performance

Shares of OSUR remained flat at $4.30 during midday trading on Friday. 880,251 shares of the stock traded hands, compared to its average volume of 1,059,814. The stock has a market cap of $318.03 million, a PE ratio of 14.33 and a beta of 0.09. The firm has a 50 day moving average price of $4.62 and a 200 day moving average price of $6.08. OraSure Technologies has a one year low of $3.91 and a one year high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data on Wednesday, May 8th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. OraSure Technologies had a return on equity of 7.68% and a net margin of 7.50%. The firm had revenue of $54.10 million for the quarter, compared to analysts’ expectations of $52.27 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was down 65.1% on a year-over-year basis. On average, research analysts predict that OraSure Technologies will post -0.08 EPS for the current fiscal year.

OraSure Technologies Company Profile

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company's products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.